Lafarge Ciments SA (CBSE:LAC) signed an agreement to acquire Holcim Maroc S.A. (CBSE:HOL) from Holcim Maroc International, Islamic Development Bank, Asset Management Arm, Holcibel S.A. and other shareholders for $1.01 billion on March 17, 2016. A merger-absorption of Holcim Maroc by Lafarge Ciments, is based on an exchange ratio equal to 1.20 Lafarge Ciments shares for 1 Holcim Maroc share. The combined firm will be known as LafargeHolcim Maroc. LafargeHolcim Ltd. and Societe Nationale d'Investissement, parent of Lafarge Maroc SA would own a 64.7% stake in the new company once the merger is complete. The merger is subject to regulatory authorities' approval, customary closing conditions and the approval of the shareholders of Lafarge Ciments and Holcim Maroc. As of April 25, 2016, The Board of Directors of Holcim MOROCCO has approved the transaction. The deal is expected to close in the third quarter of 2016.

Lazard acted as financial advisor for Societe Nationale d'Investissement, parent of Lafarge Ciments SA. Kamal Nasrollah, François-Xavier Naime, Julien Grandry), Keltoum Boudribila, Leila Kettani, Giuliano Lastrucci, Muriel Bernardin, Sofia El Baghdadi, Rim Benzakour and Rania Chawad, Eric Borysewicz and Hervé Quéré of Baker & McKenzie LLP acted as legal advisors for Societe Nationale d'Investissement, parent of Lafarge Ciments SA. Grégoire Heuzé, Charles Mussat, Guillaume Basini and François Wat of Edmond de Rothschild Asset Management (Suisse) S.A. acted as financial advisors for LafargeHolcim. Laurent Meyer, Gregory Gosse of SG Corporate & Investment Banking acted as financial advisor to Holcim Maroc.